1996-09 Approving and Authorizing Execution of Exxon Valdez Oil Spill Litigation Partial Settlement and Release Agreement.ATTEST:
KODIAK ISLAND BOROUGH
RESOLUTION NO. 96 -09
Introduced by: Mayor Selby
Requested by: Mayor Selby
Drafted by: Borough Attorney
Introduced: 03/21/96
Adopted: 03/21/96
A RESOLUTION APPROVING AND AUTHORIZING EXECUTION
OF EXXON VALDEZ OIL SPILL LITIGATION PARTIAL
SETTLEMENT AND RELEASE AGREEMENT
WHEREAS, a portion of the claims of the Kodiak Island Borough in the Exxon Valdez
Oil Spill Litigation have been settled;
NOW, THEREFORE, BE IT RESOLVED BY THE ASSEMBLY OF THE KODIAK ISLAND
BOROUGH THAT:
Section 1: The Partial Settlement and Release Agreement relating to non -land, non -
diverted services damages claims which is attached hereto as Exhibit
"A" is approved.
Section 2: Mayor Jerome Selby is hereby duly authorized and directed to execute
the attached Partial Settlement and Release Agreement and other
documents relating to this settlement between Exxon and the Kodiak
Island Borough.
ADOPTED BY THE ASSEMBLY OF THE KODIAK ISLAND BOROUGH
THIS TWENTY -FIRST DAY OF MARCH, 1996
KODIAK ISLAND BOROUGH
r
Donna F. Smith, CMC, AAE, Borough Clerk
Kodiak Island Borough, Alaska
Jer
Gar 1 . Stevens, Presiding Officer
Resolution No. 96.09
Pagel oft
PARTIAL SETTLEMENT AND RELEASE
FOR AND IN C ONSIDERATION of the sum of Four H
and No /100 ($455,000.00 undyed Fifty -Five Thousand
(the Payment) paid to the undersigned City of C
Kodiak Island Borough (collective) "Municipal and
y Municipal Plaintiffs" ), receipt of which is hereb
acknowledged, and intending to be legally y
9 y bound hereby, the undersigned Municipal
Plaintiffs absolutely and irrevocably release and discharge Exxon Corporation, Exxon
Shipping Company (Now SeaRiver Maritime Financial
Company, their directors, officers, employees Holdings, Inc.), Exxon Pipeline
and agents, and the MN EXXON VALDEZ,
its officers and crew (collectively "Exxon ") from any and d all claims, demands, and causes
of actions of every kind and character, whether kn
damages that have been sustained or may °� or unknown, for any and all
ay be sustained at any time in the future by the
undersigned Municipal Plaintiffs which arise out of or in
the MN AXON VALDEZ on March 24, 1989, the with the grounding of
89, and the resulting oil spill, including any oil
containment or cleanup procedures that followed, except
reserved and specifically set forth as follo P the following claims expressly
ws.
( The undersigns Municipal Plaintiffs reserve the right right to pursue their appeal
of the summary judgment motion granted in favor .
PP � °f Exxon Corporation and Exxon
Shipping Company in the above action in the Alaska Superior Court by the Honorable
Brian Shortell on May 5, 1994, on claims for diverted s
February 26, 1996; provided that, and in eN1Ce which appeal was filed on
n further consideration of the Payment stated
above: Should such summary judgment ruling i n
9 Exxon's favor be reversed on appeal,
and the claims brought to trial and result in a recovery of damages by the undersigned
EXHIBIT C
Municipal Plaintiffs, the undersigned Municipal Plaintiffs covenant and agree that Exxon
shall receive a credit in the amount of Eighty -Six Thousand One Hundred and No /100
Dollars ($86,100.00) to be offset against any such recovery prior to any calculation or
award of statutory interest and prior to any application for or awa
costs or fees.
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(2) The undersigned Municipal Plaintiffs reserve all claims for punitive damages
which arise out of or in association with the grounding of the MN EXXON VALDEZ on
March 24, 1989, and the resulting oil spill. including any oil containment or cleanup
procedure that followed.
The undersigned Municipal Plaintiffs hereby acknowledge receipt of the Payment
stated above and agree by their acceptance of the Payment to be legally bound by all the
terms and covenants of this agreement. The undersigned Municipal Plaintiffs further
covenant and agree that they will divide the Payment among themselves, and they hereby
acknowledge that whatever amount they determine to allocate to each of them shall
constitute good and satisfactory consideration for the undertakings of each. In further
consideration of the Payment stated above, the undersigned Municipal Plaintiffs, and each
of them, hereby specifically release Exxon from any claims or causes of action whatsoever.
arising now or in the future, known or unknown, concerning the division of this Payment
among themselves.
In order to facilitate the implementation of this Partial Settlement and Release, the
undersigned Municipal Plaintiffs further agree that this Partial Settlement and Release may
be executed by each of them in counterpart, by means of separate facsimile or other
executed in a single copy.
DATED: March , 1996. JAMIN, EBELL, BOLGER & GENTRY
DATED: March , 1996. CITY OF CORDOVA
By:
Mayor, City of Cordova
DATED: March , 1996. KODIAK ISLAND BOROUGH
47321pardal.r.
Attorneys for Municipal Plaintiffs
City of Cordova and Kodiak Island Borough
By:
Matthew D. Jamin
By:
Mayor, Kodiak Island Borough
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